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How Do You Embed Risk Into an Organization’s Culture?

Mash Risk Television

SunTrust Mortgage
Michael Haubenstock, SVP, Risk Management

Runtime: 5:00

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Key Takeaways

Embed risk into an organization’s culture by:
  1. Reinforcing the Risk Framework:
    • Use the framework in everyday business decision making versus an independent process.
    • Embed risk thinking into the culture of the business.
  2. Utilizing Internal Benchmarks:
    • Take measures of common risks and publish across organizational units.
    • Utilize peer pressure as a catalyst for change and improvement.
  3. Setting tone at the top:
    • Set individual objectives for risk management.
    • Senior management involvement in risk decisions can set the tone.
  4. Conducting Training:
    • Formal coursework builds skills and sets expectations.

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